If you think about the 1000:1 RS it was a very smart move business wise. Would you rather have had Generex file Chapter 11 and the shareholders end up with nothing?
By doing the RS, it was a faux Chapter 11. Finances are being reorganized without the time delay involved by going through the courts and current shareholders are at least getting some of their money retained. You could have zero if Generex had filed Chapter 11.
The rights offering which hopefully will give the current shareholders a DEEP discount could get the company on a somewhat financial stable base as long as the Emmaus deal goes through.
The question is, how will GNBT pull the rabbit out of the hat and come up with $6milly to satisfy the Emmaus deal?
What has happened in the past is a travesty and really PO's me. Mismanagement, misallotment of funds and resources, especially when it came to the Oral-lyn Phase III. But that is in the past.
As people, we have all made mistakes in the past that we wish we could go back and change. Well, we can't. But we can learn from our mistakes and change the course of our own history. Generex is doing just that.
If they make the same mistakes, shame on them and what they get is what they deserve.
The first thing that can be done to correct the mistakes of the past is to make sure that ALL filings are done on time regardless and when there is a material event, either positive or negative it is filed within the SEC allotted time so shareholders can make an informed investing decision.
Heck Generex, if ya mess up, fess up. We as regular folks have to do it all the time. A corporation doesn't make you immune or isolate you from common courtesy.
But back to the point, who on this board want to be judged now since they have maybe changed their lives by what happened in the past? Thought so.
So onward with events with Generex, the company we have grown to love and hate at the same time.
HaHa, this could end up being a made for TV movie.
